M/S. METEC DESIGN AND CONSTRUCTION ENGINEERS INDIA PVT. LTD. Vs. M/S. EAST COAST CONSTRUCTION AND INDUSTRIAL LTD.

JUDGEMENT

(1.) The Plaintiff, a company incorporated under the Companies Act, 1956, had filed the suit seeking Judgment and Decree against the Defendant, which is also a company incorporated under the Companies Act, 1956, for payment of a sum of Rs.2,04,45,480/- together with future interest at the rate of 18% per annum and for costs of the suit.

(2.) In the plaint it had been stated that the Plaintiff is engaged in the business of manufacturing and commissioning of Fire Fighting System for all types of building and industries. They were awarded a Letter of Intent dated 30.04.2001 by the Defendant for supply and erection of Fire Protection works for the construction of Tamil Nadu Legislative Assembly Building at Omandhur Estate, Anna Salai, Chennai, by Purchase Orders dated 07.01.2010, 13.07.2010, 07.08.2010, 18.08.2010 and 08.03.2011. It had been stated that the Plaintiff commenced execution of the work and had also completed the works in terms of the contract. They had thereafter, raised R.A bills 1 to 10 for the works executed by them.

(3.) It was stated that in the contract the Defendant had agreed to make payments under the following mode:-